North America Soy Sauce Market By Type (Brewed and Blended) By Application (Food Industry and Household) By Country, Industry Analysis and Forecast, 2019 - 2025
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Market Report Description
The North America Soy Sauce Market would witness market growth of 4.65% CAGR during the forecast period (2019-2025). Saltiness predominates in the taste of soy sauce, followed by moderate umami, sweet taste, and finally slight bitterness, which is difficult to perceive due to the masking effect of other tastes. Soy sauce's overall flavor is a function of the balance and interaction between different components of the taste. The presence of NaCl (common salt) in brine is the major reason that leads to the saltiness in the sauce. The starch-hydrolyzed sugars add sweetness to the soy sauce.
Given a wide range of volatile and odorous compounds that have been identified in soy sauce, there is no strong aroma in the food product per se. Chinese soy sauces contain alcohols, esters, acids, aldehydes, phenols, ketones, heterocyclic compounds, alkynes, and benzenes. An explanation for this observation is that the soy sauce aroma is not largely dependent on the aroma-active compounds. The mild aroma is the result of a "critical balance" attained among all volatile and odorous compounds with relatively low concentrations.
A rapid increase in health concerns is one of the main factors that consumers shift to products such as high-quality soy sauces, as they contain less salt and sugar and other variants like gluten-free soy sauce. Because of the health and wellness trend, soy sauce manufacturers are introducing new sauce range to meet consumer demand on the market. The growing numbers of fast-food chains and the increasing workforce have a positive impact on the soy sauce industry. Increasing demand for fast food and snacks has boosted soy sauce, dressings, and condiments consumption.
Private label products are priced less than mainstream brands, making private-label goods a common choice among budget-conscious consumers. Private label players' market share is growing across all packaged food segments. Product innovations and constant product launches are helping to expand private label products in the global market for soy sauces. The major retailers and supermarket chains like Tesco, Walmart, Aldi, and others offer soy sauce products from private labels. The supermarket chains also allocate more storage space for their private label offerings and are also conducting in-store promotions and campaigns to raise their private label offerings' popularity. Therefore, in the forecast period, the rising private label brands across the market would help to grow the industry.
Based on Type, the market is segmented into Brewed and Blended. Based on Application, the market is segmented into Food Industry and Household. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Foshan Haitian Flavoring & Food Co., Ltd. (Guangdong Haitian Group Co., Ltd.), Kikkoman Corporation, Masan Group Corporation, Bourbon Barrel Foods LLC, Lee Kum Kee Company Limited, Otafuku Sauce Co., Ltd., Nestle S.A. (Maggi), Yamasa Corporation, Aloha Shoyu Company, and Guangdong Meiweixian Flavoring Foods Co., Ltd.
Scope of the Soy Sauce Market Analysis
- Food Industry
- Rest of North America
- Foshan Haitian Flavoring & Food Co., Ltd. (Guangdong Haitian Group Co., Ltd.)
- Kikkoman Corporation
- Masan Group Corporation
- Bourbon Barrel Foods LLC
- Lee Kum Kee Company Limited
- Otafuku Sauce Co., Ltd.
- Nestle S.A. (Maggi)
- Yamasa Corporation
- Aloha Shoyu Company
- Guangdong Meiweixian Flavoring Foods Co., Ltd.
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